Asia
Changling Hydraulic's Shareholder to Offload 5% of Company Stake for 595 Million Yuan
Jiangsu Changling Hydraulic (SHA:605389) said a shareholder plans to transfer his 5% stake to his son-in-law for 595.2 million yuan, according to a Shanghai bourse disclosure on Wednesday.Xia Jifa will offload 9,365,660 shares to Fan Chunxiao for 63.55 yuan per share.Xia's stake in the company will decline to 1.34% from 6.34% after the transaction.The hydraulic parts manufacturer's shares dropped 3% at the close.
SHA:605389
